Sketches in Crude-oil: Some accidents and incidents of the petroleum development in all parts of the globeMcLaurin, John J. (John James)
History
Sketches in Crude-oil: Some accidents and incidents of the petroleum development in all parts of the globe
McLaurin, John J. (John James)
Petroleum -- History; Petroleum industry and trade -- North America -- History
Dr. M. C. Egbert retained his share. Riches showered upon him. His
interests in the land and wells yielded him thousands of dollars a day.
Once his safe contained, by tight squeezing, eighteen-hundred-thousand
dollars in currency and a pile of government bonds! He built a
comfortable house and lived on the farm. He and his family traveled over
Europe, met shoals of titled folks and saw all the sights. In company
with John Brown, subsequently manager of a big corporation at Bradford
and now a resident of Chicago, he engaged in oil-shipments on an
extensive scale. To control this branch of the trade, as the Standard
Oil-Company has since done by combinations of capital, was too gigantic
a task for the firm and failure resulted. The brainy, courageous doctor
went to California, returned to Oildom and operated in McKean county. He
has secured a foothold in the newer fields and lives in Pittsburg, frank
and urbane as in the palmiest days of the Hyde & Egbert farm. If Dame
Fortune was strangely capricious on Oil Creek, the pluck of the men with
whom “the fickle jade” played whirligig was surely admirable.
Probably no parcel of ground in America of equal size ever yielded a
larger return, in proportion to the expenditure, than the Hyde & Egbert
tract. Six weeks’ production of the Coquette or Maple Shade would drill
all the wells on the property. Charles Hyde and Dr. A. G. Egbert cleared
at least three-million dollars, the latter selling one-twelfth of the
Coquette alone for a quarter-million cash. Profits of others interested
in the land and of the lessees trebled this alluring sum. The
aggregate—eight to ten millions—in silver-dollars would load a
freight-train or build a column twenty miles high! Fused into a lump of
gold, a dozen mules might well decline the task of drawing it a mile.
Done up into a bundle of five-dollar bills, Hercules couldn’t budge the
bulky package. A “promoter” of the Mulberry-Sellers brand wanted an
owner of the farm, when the wells were at their best, to launch the
whole thing into a stock-company with five-millions capital. “Bah!”
responded the gentleman, “five millions—did you say five-millions? Don’t
waste your breath talking until you can come around with twenty-five
millions!”
Public-domain text, read in full here on John Shaqi.
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